Palo Alto Office Sale Drops 44% | San Jose News

Two Palo Alto office buildings—once home to a major defense contractor—just sold for $163 million, a shocking 44% drop from the $291 million Alexandria Real Estate paid in 2019. This steep decline underscores how the pandemic and the rise of remote work have upended commercial real estate, forcing companies to rethink their space needs. The 485,000-square-foot complex is now owned by an LLC tied to Harvest Properties. Listen in comfort:Get a discount on a Soli Pillow: http://solipillow.com/discount/dnn. Advertise on DNN:[email protected] This is an automated, high-level news summary based on public reporting.Report issues to [email protected]. View sources & latest updates:https://sources.thednn.ai/78b312bea143fe45